IDEAS home Printed from https://ideas.repec.org/p/rif/report/86.html

Who Holds the Reins? – Banks in the Crossfire of Global Platforms

Author

Listed:
  • Mattila, Juri
  • Seppälä, Timo
  • Lähteenmäki, Ilkka

Abstract

Banking and financial services have traditionally been a heavily regulated industry where technology alone has not been a sufficient factor to transform the operating architectures of the industry. The pervasive view in the financial industry has been that digitalization and its integrational development will take place on the platforms of the banks. Due to the inherent secondary nature of financial services, however, it is more likely that the customer interface of financial services will increasingly migrate towards primary service platforms. As a result, the commoditization of payment processing services is expected to increase. Additionally, the visibility into customer data will become more opaque and the value capturing capabilities of the financial industry will be radically redefined. Furthermore, a strategic impact can also be anticipated on several public institutions, such as financial supervisory authorities, the tax administration and other public registry holders.

Suggested Citation

  • Mattila, Juri & Seppälä, Timo & Lähteenmäki, Ilkka, 2018. "Who Holds the Reins? – Banks in the Crossfire of Global Platforms," ETLA Reports 86, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:report:86
    as

    Download full text from publisher

    File URL: https://www.etla.fi/wp-content/uploads/ETLA-Raportit-Reports-86.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Timothy H. Hannan & John M. McDowell, 1984. "The Determinants of Technology Adoption: The Case of the Banking Firm," RAND Journal of Economics, The RAND Corporation, vol. 15(3), pages 328-335, Autumn.
    2. Lauslahti, Kristian & Mattila, Juri & Seppälä, Timo, 2016. "Smart Contracts – How will Blockchain Technology Affect Contractual Practices?," ETLA Reports 57, The Research Institute of the Finnish Economy.
    3. Rahul C. Basole & Shiv S. Patel, 2018. "Transformation Through Unbundling: Visualizing the Global FinTech Ecosystem," Service Science, INFORMS, vol. 10(4), pages 379-396, December.
    4. Mattila, Juri, 2016. "The Blockchain Phenomenon – The Disruptive Potential of Distributed Consensus Architectures," ETLA Working Papers 38, The Research Institute of the Finnish Economy.
    5. Mattila, Juri & Seppälä, Timo, 2015. "Blockchains as a Path to a Network of Systems - An Emerging New Trend of the Digital Platforms in Industry and Society," ETLA Reports 45, The Research Institute of the Finnish Economy.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Huttunen, Henri & Seppälä, Timo & Lähteenmäki, Ilkka & Mattila, Juri, 2019. "What Are the Benefits of Data Sharing? Uniting Supply Chain and Platform Economy Perspectives," ETLA Reports 93, The Research Institute of the Finnish Economy.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Magnus Schückes & Tobias Gutmann, 2021. "Why do startups pursue initial coin offerings (ICOs)? The role of economic drivers and social identity on funding choice," Small Business Economics, Springer, vol. 57(2), pages 1027-1052, August.
    2. Burton, Michael P. & Rigby, Dan & Young, Trevor, 2003. "Modelling the adoption of organic horticultural technology in the UK using Duration Analysis," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(01), pages 1-26, March.
    3. Donal G. MCKILLOP & Barry QUINN, 2015. "Web Adoption By Irish Credit Unions: Performance Implications," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 86(3), pages 421-443, September.
    4. Hukkinen, Taneli & Mattila, Juri & Seppälä, Timo, 2017. "Distributed Workflow Management with Smart Contracts," ETLA Reports 78, The Research Institute of the Finnish Economy.
    5. Lauslahti, Kristian & Mattila, Juri & Seppälä, Timo, 2016. "Smart Contracts – How will Blockchain Technology Affect Contractual Practices?," ETLA Reports 57, The Research Institute of the Finnish Economy.
    6. Li, Daiyue & Jin, Yanhong & Cheng, Mingwang, 2024. "Unleashing the power of industrial robotics on firm productivity: Evidence from China," Journal of Economic Behavior & Organization, Elsevier, vol. 224(C), pages 500-520.
    7. Mehrdad Maghsoudi & Saeid Aliakbar & Amirmahdi Mohammadi, 2026. "Exploring the digital tourism ecosystem: unveiling user behavior through social network analysis," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 13(1), pages 1-17, December.
    8. Robert J. Kauffman & James McAndrews & Yu-Ming Wang, 2000. "Opening the “Black Box” of Network Externalities in Network Adoption," Information Systems Research, INFORMS, vol. 11(1), pages 61-82, March.
    9. Tedi Skiti, 2020. "Institutional entry barriers and spatial technology diffusion: Evidence from the broadband industry," Strategic Management Journal, Wiley Blackwell, vol. 41(7), pages 1336-1361, July.
    10. Merello, Paloma & Barberá, Antonio & la Poza, Elena De, 2022. "Is the sustainability profile of FinTech companies a key driver of their value?," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    11. Antoine Feylessoufi & Stylianos Kavadias & Daniel Ralph, 2024. "Behavioral Microfoundations of New Practice Adoption: The Effects of Rewards, Training and Population Dynamics," Management Science, INFORMS, vol. 70(10), pages 6685-6703, October.
    12. Zhang, Li & Liu, Hongyu & Zhang, Xiaoling, 2024. "Enhancing green housing diffusion through density bonuses: An analysis using the Use-Purchase-Supply model," Land Use Policy, Elsevier, vol. 147(C).
    13. Dominic Atogumsekiya Anarigide & Haruna Issahaku & Stanley Kojo Dary, 2023. "Drivers of financial innovation in sub-Saharan Africa," SN Business & Economics, Springer, vol. 3(9), pages 1-21, September.
    14. Susan Helper, 1995. "Supplier Relations and Adoption of New Technology: Results of Survey Research in the U.S. Auto Industry," NBER Working Papers 5278, National Bureau of Economic Research, Inc.
    15. Frédéric Marty & Julien Pillot, 2019. "Cooperation, Dependence and Eviction - How Platform-To-Business Relationships in Mobile Telephony Ecosystems Should Be Addressed in A Competition Law Perspective?," CIRANO Working Papers 2019s-01, CIRANO.
    16. Suzi Kerr & Richard G. Newell, 2003. "Policy‐Induced Technology Adoption: Evidence from the U.S. Lead Phasedown," Journal of Industrial Economics, Wiley Blackwell, vol. 51(3), pages 317-343, September.
    17. Elaine M. Liu, 2013. "Time to Change What to Sow: Risk Preferences and Technology Adoption Decisions of Cotton Farmers in China," The Review of Economics and Statistics, MIT Press, vol. 95(4), pages 1386-1403, October.
    18. Getz, Malcolm & Siegfried, John J. & Anderson, Kathryn H., 1997. "Adoption of innovations in higher education," The Quarterly Review of Economics and Finance, Elsevier, vol. 37(3), pages 605-631.
    19. Bocquet, Rachel & Brossard, Olivier & Sabatier, Mareva, 2007. "Complementarities in organizational design and the diffusion of information technologies: An empirical analysis," Research Policy, Elsevier, vol. 36(3), pages 367-386, April.
    20. Yingying Zhang-Zhang & Sylvia Rohlfer & Jay Rajasekera, 2020. "An Eco-Systematic View of Cross-Sector Fintech: The Case of Alibaba and Tencent," Sustainability, MDPI, vol. 12(21), pages 1-25, October.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rif:report:86. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kaija Hyvönen-Rajecki (email available below). General contact details of provider: https://edirc.repec.org/data/etlaafi.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.